Canadian Banks Report Lower Revenues In Foreign Exchange For Third Quarter
BANKS
Canadian banks are reporting lower foreign exchange revenues for their fiscal third quarter - the three months ended July 31 - and on a year-over-year basis, officials say. Market activity has been slow, according to Thomas Benfer, a director of foreign exchange at the Bank of Montreal (BMo) in New York. Benfer says market unpredictability has forced many clients, particularly speculators, to scale back trading and reduce their positions. Four Canadian banks had reported when FX Week went to
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